By Laura Edgerton
As covered in our blog Super Charging Social: How the World Uses Social Media, influencer marketing is booming.
In just three years, influencer marketing is expected to become a $27 billion business — up $12 billion from 2022.
So, what are the benefits of incorporating influencer marketing into your strategy?
With the evolution of third-party tracking, ad blockers and the ability to “opt out,” your target audience is harder to reach than ever. Collaboration with influencers helps your product or service reach an audience via the content they’re intentionally consuming – helping you meet consumers where they flourish.
The most valuable ingredient for any successful campaign is social proof. More consumers rely on reviews, testimonials, and recommendations for products than ever before.
"Just one positive review conducted by a recognizable influencer has the capability of causing an influx in popularity and, more importantly, sales."
When influencers use their authority to feature a brand, the reach and awareness is highly instrumental in the brand’s success. If the influencer showcases the same brand over time, the relationship and trust the influencer has with their audience begins grow along with the brand as well. It’s no longer “I support this company” it’s “we support this company.”
In addition to reaching a vast audience, Influencers improve brand awareness by solidifying their position and narrative in the market. Exposing your brand to new consumers with a personalized story behind it is critical when trying to make your brand stand out among the competition. This helps augment your overall brand awareness, leading to higher word-of-mouth recommendations and higher sales overall. As reported by Forbes, “With 80% of consumers making buying decisions based on a friend’s social media post, the era of virtual word-of-mouth recommendations is in full effect.” – Forbes, 2022
Considering that 97% of Gen Z shoppers seek influencer guidance for recipe ideas, new usage occasions, and product recommendations, influencers are already setting the trends when it comes to the “next big thing.” As seen through #TikTokMadeMeBuyIt – TikTok inspired 67% of viewers to shop even when they weren’t necessarily looking to do so. In fact, new data from Sprout Social indicates that nearly all (98%) consumers plan to make at least one purchase through social shopping or influencer commerce this year.
Incorporating influencer marketing into your strategy is the key to success. Collaboration with influencers helps you connect with your target audience in their preferred setting, drive brand awareness and establish trust and authority with consumers and influencers alike. Let Ideas Collide help you elevate your social and content strategy. Let’s connect!